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Broadcom ditching Qualcomm bid on government opposition: sources

Wed, Mar 14, 2018 - 9:13 AM

Broadcom Ltd will formally abandon its attempt to acquire rival chipmaker Qualcomm Inc after U.S. President Donald Trump blocked the deal citing national security risks, according to people familiar with its plans.

PHOTO: REUTERS

[SAN FRANCISCO ] Broadcom Ltd will formally abandon its attempt to acquire rival chipmaker Qualcomm Inc after U.S. President Donald Trump blocked the deal citing national security risks, according to people familiar with its plans.

An announcement, which would bring to an end a months-long battle to land the technology industry's biggest ever deal, is planned for early Wednesday morning, according to the people, who asked not to be identified ahead of the official statement.